Greek debt crisis sparks widening of almost all global CDS spreads
The risk of a Greek default almost doubled as a result of the European sovereign debt crisis a report by the Credit Market Analysts (CMA) said on Monday.
CMA's Global Sovereign Credit Risk Report showed the spread on the five-year credit default swaps (CDS), the cost of protecting against a default for five years, on Greek government debt increased by more than 657 basis points, or 190%, from 346 basis points in mid-April to 1,003 basis points in mid-June. The report noted that towards the end
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